Beijing North Star : ANNOUNCEMENT - PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION

About this update from Beijing North Star Company Limited Class A

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. ANNOUNCEMENT PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION This announcement is made by Beijing North Star Company Limited (the " Company ") pursuant to Rule 13.51(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The board of directors of the Company (the " Board ") has passed a resolution on 26 August 2020 for the proposal to make corresponding amendments (the " Proposed Amendments ") to the articles of association of the Company (the " Articles of Association ") in view that the Company proposed to establish the legal compliance committee of the Board. Details of the specific amendments are set out as below: Before the amendments After the amendments Article 11 Article 11 Other senior management of the Company Other senior management of the Company refer to the secretary to the board of refer to the deputy manager, the secretary directors, the deputy manager, the financial to the board of directors, the general controller, the chief legal adviser, the chief counsel , the financial controller, the chief economist and the chief engineer of the economist and the chief engineer of the Company. Company. - 1 - Before the amendments After the amendments Article 139 Article 139 The board of directors shall be responsible The board of directors shall be responsible to the shareholders' general meeting to the shareholders' general meeting and shall have the following powers and and shall have the following powers and duties: duties: ⋯⋯ ⋯⋯ (11) to appoint or dismiss the company (11) to appoint or dismiss the company manager and the secretary to the board manager and the secretary to the board of directors; to appoint or dismiss senior of directors; to appoint or dismiss senior management including the company deputy management including the company manager and financial officer-in-charge deputy manager, the general counsel and based on the nomination by the company financial officer-in-charge based on the manager, as well as to determine their nomination by the company manager, as remuneration and award/punishment well as to determine their remuneration issues; and award/punishment issues; ⋯⋯ ⋯⋯ Article 155 Article 155 The Company shall establish the strategic The Company shall establish the strategic committee, the audit committee, the committee, the audit committee, the remuneration and evaluation committee remuneration and evaluation committee, a n d t h e n o m i n a t i o n c o m m i t t e e b y the nomination committee and the legal resolutions of shareholders' general compliance committee by resolutions meeting. Their duties and respective rules of shareholders' general meeting. Their of procedure of such committees shall be duties and respective rules of procedure individually formulated by the board of of such committees shall be individually directors of the Company; formulated by the board of directors of the Company; ⋯⋯ ⋯⋯ - 2 - Before the amendments After the amendments Article 163 Article 163 The manager shall be responsible to the The manager shall be responsible to the board of directors and shall have the board of directors and shall have the following powers and duties: following powers and duties: ⋯⋯ ⋯⋯ (6) to nominate appointment and (6) to nominate appointment and dismissal of deputy managers and dismissal of deputy managers, the persons in charge of financial matters; general counsel and persons in charge of financial matters; ⋯⋯ ⋯⋯ The numbering of other articles shall be adjusted accordingly. Save for the amendments above, the contents of the other articles of the Articles of Association remain unchanged. According to the Articles of Association and relevant laws and regulations, the Proposed Amendments are subject to consideration and approval of the shareholders of the Company (the " Shareholders ") at the general meeting of the Company by way of a special resolution. A circular containing, among other things, details of the Proposed Amendments will be despatched to the Shareholders as soon as practicable. By order of the Board BEIJING NORTH STAR COMPANY LIMITED GUO Chuan Executive Director and Company Secretary Beijing, the PRC, 26 August 2020 As at the date of this announcement, the Board comprises eight directors, of which Mr. LI Wei-Dong, Ms. LI Yun, Mr. CHEN De-Qi, Ms. ZHANG Wen-Lei and Mr. GUO Chuan are executive directors and Mr. FU Yiu-Man, Mr. DONG An-Sheng and Mr. WU Ge are independent non-executive directors. Should there be any differences between the Chinese and English versions of this announcement, the Chinese version shall prevail. - 3 -

View stock analysis, news, and events for Beijing North Star Company Limited Class A